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Alkami Technology Priced, Nasdaq: ALKT

Provides an online banking SaaS platform to regional banks.

Industry: Technology

Latest Trade: $41.44 -0.13 (-0.3%)

First Day Return: +43.3%

Return from IPO: +38.6%

Industry: Technology

Alkami is a cloud-based digital banking platform. We inspire and empower community, regional and super-regional financial institutions (“FIs”) to compete with large, technologically advanced and well-resourced banks in the United States. Our solution, the Alkami Platform, allows FIs to onboard and engage new users, accelerate revenues and meaningfully improve operational efficiency, all with the support of a proprietary, true cloud-based, multi-tenant architecture. We cultivate deep relationships with our clients through long-term, subscription-based contractual arrangements, aligning our growth with our clients’ success and generating an attractive unit economic model. In the early 2000s digital engagement began revolutionizing industries overnight, forcing firms to invest and innovate or risk losing long-term relationships to well-resourced competitors. Within banking, many FIs were ill-equipped to compete with larger competitors, including the largest banks in the world, such as J.P. Morgan Chase, Bank of America, Citigroup and Wells Fargo (collectively, “megabanks”), primarily due to resource constraints and the resulting inability to keep pace, technologically, with evolving consumer preferences for digital engagement. This led to the first digital banking platforms.
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IPO News for Alkami Technology
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IPO Data
IPO File Date 03/10/2021
Offer Price $30.00
Price Range $26.00 - $28.00
Offer Shares (mm) 6.0
Deal Size ($mm) $180
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 04/13/2021
Offer Price $30.00
Price Range $26.00 - $28.00
Offer Shares (mm) 6.0
Deal Size ($mm) $180
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Plano, TX
Founded 2009
Employees 609
Website www.alkami.com